Selling pangasius and shrimp to the US and EU earned more than 1 billion USD: What advantages do Vietnamese businesses have?

Published May 24, 2024

Tridge summary

In April 2024, Vietnam witnessed a notable surge in its agricultural exports, with pangasius and shrimp taking the lead. Pangasius exports to the US experienced a 34% increase in April compared to the previous month, reaching a value of nearly 38 million USD, and grew by 19% to exceed 100 million USD for the first four months of the year. The US market preferred frozen pangasius fillets, contributing to 98% of the total pangasius exports' value. On the other hand, shrimp exports saw a mixed performance across major markets. While exports to the US decreased by 15%, they surged by 1.7% to China, by 4% to Korea, and significantly by over 28% to the EU, contributing to an overall growth of 10% in the first four months of 2024. This upturn in seafood exports is anticipated to persist, fueled by increasing demand, reduced inventories, and efforts to enhance productivity and competitiveness within the industry.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to data from the General Department of Customs, pangasius exports to the US in April 2024 recorded many optimistic signs with a value of nearly 38 million USD, an increase of 34% compared to April 2024. By the end of April, pangasius exports to this market reached 102 million USD, up 19% over the same period last year. The Vietnam Association of Seafood Exporters and Producers (VASEP) said that frozen pangasius fillets are still the main product exported to the US. In April 2024, the export turnover of frozen fillet products to the US reached more than 37 million USD, an increase of 35% compared to April 2023. By the end of April 2024, exports of frozen pangasius fillets to the US reached more than 100 million USD, an increase of 19% over the same period in 2023, accounting for 98% of the total value of pangasius exports to the US. In addition, by the end of April 2024, the export of VAT and frozen pangasius reached nearly 2 million USD. According to VASEP, consumers in ...

Source: Danviet